PDC Energy (PDCE) reported Q3 EPS of $3.77, $0.24 worse than the analyst estimate of $4.01. Revenue for the quarter came in at $1.51 billion versus the consensus estimate of $1.05 billion.
GUIDANCE:
Fourth Quarter and Full Year 2022 Outlook
For the fourth quarter, the Company expects total production to be in a range of 245,000-255,000 Boe per day and 80,000-84,000 Bbls per day of oil production.
For the full-year 2022, we reaffirm our production guidance range of 230,000 Boe to 240,000 Boe per day, of which approximately 73,000 Bbls to 77,000 Bbls is expected to be crude oil. Our planned 2022 capital investments in crude oil and natural gas properties are expected to be approximately $1.075 billion, which is at the high end of our previously reported full-year guidance range. This is a result of bringing on the second completion crew at the end of September, as planned, paired with continued operational efficiency that ultimately increases the number of stages completed and incremental spuds as well as continued cost pressures.